BlueVoyant, a cyber security company that illuminates, validates, and mitigates internal and external risks, today released the findings of its fourth annual global survey into supply chain cyber risk management. The research reveals supply chain cyber security risk management is not a priority for more than 50% of respondents in Singapore despite an average 4.42 breaches reported to be negatively impacting operations this year. More alarmingly, almost a third of respondents reported between 6 and 10 breaches in the last 12 months.
The 2023 global study reveals that the number of cyber breaches targeting organisations’ supply chains continues to rise, with an average 4.16 breaches reported to be negatively impacting operations this year — a 26% increase from the mean number of 3.29 breaches in 2022.
While breaches are causing increased scrutiny from boards of directors (45% compared to 39% globally), Singapore respondents were the least likely to report a budget increase (83% compared to 85% overall). The survey revealed that, despite increased cyber security scrutiny, budgets for external resources in Singapore were less…
